CGT on a property i lived in for 6 years.

ethan07 · #1 02-07-2010, 10:59 AM

Hi there,

I bought my house in 2001 for £95,000 and lived there for 6 years. I then got married etc and bought another property to move into in 2007 and turned my original property in to a buy to let (friends advice!).

The property was valued at £240,000 when i moved out in Nov 2007. Im now unsure what CGT i will pay if i chose to sell this property. I believe its still worth £240,000. I have been told if i sold before this november (which would be 3 years i have not lived in this property) i would not pay any CGT. Is this true? If i did chose to sell next year or in a couple of years what sort of CGT would i be liable to pay?

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